Need copies of old bank statements? Wendy Knowler checks out what banks charge

The Money Show's Bruce Whitfield gets the lowdown from consumer journalist Wendy Knowler.

You've most likely already discovered that obtaining a statement history from your bank can cost you.

It's something that's often required, for example as proof of income in an application process such as a rental agreement, for a visa or any form of credit.

Aside from the usual three months' of bank statements request, a longer history is required for things like tax disputes or investigating fluctuating debit order amounts.

'I'm told by law that banks are required to maintain five years of transaction history' notes Wendy Knowler.

The consumer journo revisited the issue after she was recently tagged on an X post by an Absa client demanding to know from his bank if it was fair to charge him R100 per statement.

"I needed 17 months, that is R1 700!" he fumed.

Absa responded that copies of statements less than four months old cost R50 each, and any older ones will set you back R100.

This client then followed up with a tweet indicating that he'd received all his statements from his FNB account, for free.

Knowler also checked with other major banks to find out their policy.

ABSA

We provide customers a choice to avoid paying in-branch fees by offering these services at a minimal cost or free of charge online.

Additionally, our customers can select to receive emailed statements (our default choice when you open your account) free of charge.

STANDARD BANK

Clients can access historic statements for up to 2 years on our digital platforms.

Statements dating back to 6 months can be accessed at no additional charge, however we do charge for a view, download or email fee for each monthly statements older than 6 months.

Formal statements older than 6 months: R10 to view, save or to send to an email address. (Knowler's note: Versus Absa’s R100)

Statements sent to email as a subscription: Daily statement subscription R60 pm; Weekly statement subscription R30 pm; Monthly statement subscription R15 pm

Requesting the same statement in branch or at an ATM may incur additional charges based on account type.

CAPITEC BANK

All statements issued through our digital platform, such as our app and WhatsApp, are free. You can view the statement on our app or share it as needed.

You can access statements dating back up to three years.

(Knowler's note: Other banks take note! This is really user friendly.)

NEDBANKNedbank customers on the MiGoals product suite may download the latest 3 months' statements for free via the Money App or online banking channels.

MiGoals and MiGoals Plus product holders are charged R10 for digital statements that are older than 3 months.

All digital statements are free on the MiGoals Premium product regardless of the period.

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